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10341 - 10350 from 16532 . In "BUSINESS"
Eng. Ziad Aba Al-Khail
Aljazira Capital receives new international awards
THREE Investment Funds for Saudi, Japanese and international stocks lead Aljazira Capital (CMA permit number 07076-37) to receive new international awards and contributed to Aljazira receiving the title of “Best Performance for Five Years” from Thomson Reuters for 2018. Where these funds have succeeded in providing the best solutions and innovative initiatives, adopting the best practices, as well as their ability to keep up with the changes and developments in the local and international capital market.Thomson Reuters announced that the three Funds “Aljazira Fund for Saudi Equities”, “Aljazira Fund for International Equities” and “Aljazira Fund for Japanese Equities” reinforced Aljazira Capital’s place as an international stock provider which gives the best solutions...
September 15, 2018

Aljazira Capital receives new international awards

Shipping containers are seen stacked at the Dachan Bay Terminals in Shenzhen, Guangdong province, China in this file photo. — Reuters
China's export-dependent provinces scramble for shelter from US trade storm
BEIJING — China's export-dependent cities and provinces are scrambling to provide relief to exporters, stabilize employment and avert the possibility of social unrest as an intensifying trade dispute with the United States threatens to further erode business. Guangdong, China's biggest province by gross domestic product, this week offered to cut corporate taxes, slash electricity prices and reduce transport and land costs as additional US tariffs since July exposed Chinese manufacturers to the prospect of empty order books. The tariffs have come at a particularly bad time for the southern province, which is in the midst of an economic restructuring as it tries to move away from low-end, labor-intensive manufacturing. The shift has already led to job losses. Fujian, another...
September 14, 2018

China's export-dependent provinces scramble for shelter from US trade storm

The new Volkswagen Beetle Dune is introduced at the LA Auto Show in Los Angeles, California, United States, in this file photo. — Reuters
Volkswagen to end iconic 'Beetle' cars in 2019
NEW YORK — Volkswagen announced Thursday it would end production of its iconic "Beetle" cars in 2019 after adding a pair of final editions of the bug-shaped vehicles. The curvy-topped sedans, which shook off Nazi origins to become a global auto phenomenon, are being sidelined as Volkswagen emphasizes electric cars and larger family-oriented vehicles. But company officials, still trying to completely turn the page after 2015's costly "dieselgate" scandal, opened the door to reviving the model at some point, alluding to the company's 2017 decision to unveil a revamped Volkswagen Bus as a possible template. "As we move to being a full-line, family-focused automaker in the US and ramp up our electrification strategy...there are no immediate plans to...
September 14, 2018

Volkswagen to end iconic 'Beetle' cars in 2019

International Monetary Fund logo is seen outside the headquarters building in Washington D.C. — Reuters
Ukraine in talks with IMF on new standby deal: President's ally
KIEV — Ukraine has begun talks with the International Monetary Fund on a new standby deal that would replace the current $17.5 billion assistance program, the president's parliamentary representative said on Friday. A fresh standby agreement could give Ukraine breathing space as it has struggled to fulfill some of the conditions of its existing deal and needs to service rising debt payments. The IMF and Western allies have pumped billions of dollars into the country since the 2014 Maidan uprising and the annexation of Crimea by Russia that pitched Ukraine into crisis. But the $17.5 billion package has been effectively frozen since April 2017 amid a slowdown in required economic reforms and efforts to tackle entrenched corruption. Kiev has banked only $8.7 billion originally made...
September 14, 2018

Ukraine in talks with IMF on new standby deal: President's ally

Kenya's President Uhuru Kenyatta speaks while meeting with US President Donald Trump in the Oval Office at the White House in Washington, US, in thisfile photo. — Reuters
IMF says Kenya's external position is strong as standby deal expires
NAIROBI — The International Monetary Fund considers that Kenya's external position is strong, its representative in Nairobi said on Friday, adding that the Fund would continue to support its reform efforts even though a stand-by loan deal has expired. Kenya had secured a six-month extension in March of the $989.8 million arrangement. However, the IMF set conditions for a further extension, including the repeal of a cap on commercial lending interest rates which was imposed in 2016, a move that parliament rejected in a finance bill last month. President Uhuru Kenyatta sent the bill back to parliament on Thursday night, but what happens next regarding the rate cap is not yet clear. IMF representative Jan Mikkelsen confirmed what the government said on Thursday: that the deal was...
September 14, 2018

IMF says Kenya's external position is strong as standby deal expires

Lehman Brothers headquarters in New York.
Economists should have predicted Lehman collapse: OECD chief
PARIS — The head of the OECD said Friday that he regretted the rich nations club's failure to predict the crisis triggered by the collapse of Lehman Brothers a decade ago, saying economic forecasts needed to better reflect reality. "At the end of my first year in office, in June 2007, the OECD economic outlook stated 'the current economic situation is in many ways better than what we have experienced in years'," Angel Gurria said. He told a meeting in Paris on lessons from the financial crisis that reading these words today feels "like stabbing myself". "We were equally optimistic regarding the growing concern about the US mortgage industry," Gurria added. "When one is so happy to be professionally optimistic, then of course you...
September 14, 2018

Economists should have predicted Lehman collapse: OECD chief

Mark Carney, governor of the Bank of England, attends an event in Dublin, Ireland, on Friday. — Reuters
Bank of England prepared for wide range of Brexit outcomes — Carney
DUBLIN — The Bank of England and Britain's largest banks are well prepared for a disorderly Brexit, the central bank's governor Mark Carney said on Friday, amid reports he had warned it could trigger a house price crash. British media had reported late on Thursday that Carney had told senior ministers earlier in the day that a chaotic Brexit could lead to house price falls of up to 35 percent over three years as well as spiraling interest rates. Carney did not address this prospect directly in his speech at Ireland's central bank, though these projections are similar to scenarios the BoE told banks last year to ensure they had guarded against. "The Bank of England is well-prepared for whatever path the economy takes, including a wide range of potential Brexit...
September 14, 2018

Bank of England prepared for wide range of Brexit outcomes — Carney

Ryanair workers are demanding better working conditions and want their contracts to be based on the law in their country of residence rather than in Ireland.
Ryanair announces preliminary deal with Italian staff
DUBLIN — Budget airline Ryanair announced on Friday that it has reached an agreement with flight crew unions in Italy to provide employment contracts under Italian law. In a press release, Ryanair said agreements had been signed "in principle" with unions FIT-CISL, ANPAC and ANPAV in Rome on Thursday. Also on Thursday, Italian crews, alongside their Belgian, Dutch, Spanish and Portugese counterparts announced a 24-hour stoppage on Sept. 28 that unions said would be the biggest strike in the Irish carrier's history. With confirmation of the agreement between Ryanair and the Italian crews — set to come into effect on Oct. 1 for a period of three years — their participation in the forthcoming strike is unclear, with union leaders currently leading consultation on the...
September 14, 2018

Ryanair announces preliminary deal with Italian staff

The headquarters of the European Medicines Agency (EMA), is seen in London, in this file photo. — Reuters
Regulators flag second impurity in China-made heart drug
FRANKFURT — European and North American regulators have said they are examining a second potentially cancer-causing substance in a commonly-used blood pressure drug made by Chinese firm Zhejiang Huahai Pharmaceuticals . Statements from health regulators in the EU, United States and Canada add to concerns flagged earlier this year when the drug, valsartan, was found to contain traces of N-nitrosodimethylamine (NDMA), a probable human carcinogen, due to a production change in 2012. The findings have already prompted recalls in more than 50 countries, affecting several Chinese and Indian companies. On Thursday, the European Medicines Agency (EMA) said a similar impurity had been detected in products produced before 2012. "In addition to NDMA, EMA is assessing the impact of a...
September 14, 2018

Regulators flag second impurity in China-made heart drug

In this file photo, Chief Executive Officer of Amazon, Jeff Bezos, tours the facility at the grand opening of the Amazon Spheres, in Seattle, Washington. Bezos announced thursday he was launching a philanthropic fund with a $2 billion initial commitment to help homeless families and launch preschools in low-income communities. — AFP
Amazon's Jeff Bezos unveils $2bn philanthropic fund
WASHINGTON — Amazon founder Jeff Bezos announced Thursday he was creating a philanthropic fund with a $2 billion initial commitment to help homeless families and launch preschools in low-income communities. The world's richest individual made the announcement on Twitter a year after asking for ideas on how he could use his personal fortune — now estimated at some $163 billion — for charitable efforts. The "Bezos Day One Fund" created by Bezos and his wife MacKenzie will focus on two areas — helping "existing nonprofits that help homeless families" and funding "a network of new, nonprofit, tier-one preschools in low-income communities," he wrote. For the homeless, grants will be given to organizations "doing compassionate, needle-moving work...
September 13, 2018

Amazon's Jeff Bezos unveils $2bn philanthropic fund

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